Village Bank investor turns $8M into $62M thanks to TowneBank deal

In 2015, seasoned bank investor Ken Lehman agreed to front $8 million as part of a $14 million capital raise to help prop up Midlothian-based Village Bank.At the time, the bank was struggling with recession-era baggage from soured loans, foreclosed real estate and dwindling capital levels.Lehman bou
Read MoreForeclosed West End office building sells at auction to local investor Marwaha

The building was sold at auction Wednesday morning. (Courtesy New Media Systems)Gagan Marwaha has snatched up yet another distressed Richmond-area office building, this time at the auction block.The local investor won Wednesday’s foreclosure auction of the Capital City Physicians Building at 8002 Di
Read MoreThe Docket: Local court roundup for 9.26.24

Chesterfield Circuit CourtZion G. Laws v. The TJX Companies, Inc. d/b/a T.J. Maxx Midlothian, VAPlaintiff says on/about Sept. 17, 2022, at 4851 Commonwealth Centre Parkway, while trying on shoes with a security lock tag, the tag flipped beneath the shoe, causing her to fall forward where there was a
Read MoreNew-to-market grocery store to open near Courthouse and Hull Street intersection in Chesterfield

California-based Grocery Outlet is planning to open a store at 9923 Hull Street Road, formerly occupied by gym YouFit, in the Oxbridge Square Shopping Center. (Jack Jacobs photo)An out-of-town grocery store chain has claimed a former gym near the Courthouse Road and Hull Street Road intersection in
Read MoreBulk of White Oak Village in eastern Henrico sells for $63M

The entirety of White Oak Village spans over 100 acres in Eastern Henrico. (Mike Platania photo)The bulk of a sprawling Sandston-area shopping center has changed hands. Last week White Oak Village at 4501-4591 Laburnum Ave. sold for $63.5 million, Henrico records show. The new owner of the retail de
Read MorePlans progressing for pair of infill apartment buildings along Broad St. in Shockoe

The five-story infill at Broad and 18th streets would be fitted between the century-old Branch Public Baths building and other apartments on 18th, shown below. (City documents)A pair of five-story apartment buildings in the works in Shockoe Bottom at the foot of Church Hill are coming into fuller vi
Read MorePanda Express drops $1.6M for site at Cosby Village development

Panda Express has bought a parcel at Cosby Village Square with plans to open an outpost there. (Jack Jacobs photo)Panda Express is cooking up a new location in Chesterfield County.The chain of Chinese eateries recently spent $1.6 million on a 1.3-acre undeveloped outparcel site at Cosby Village Squa
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Five recent fiction and nonfiction titles recommended. The post New Reading Roundup appeared first on Style Weekly.
Read More The R&D Dept.: Local patent roundup for 9.25.24

Device And Method For Checking Fill Level Of A CartridgePatent No. 12089656A aerosol-generating system includes a liquid storage portion, a liquid pressure sensor within the liquid storage portion, and a control unit that is in communication with the pressure sensor. The aerosol-generating system fu
Read MoreTowneBank eyes growth in Chesterfield, Hanover as part of $120M Village Bank acquisition

TowneBank’s new 8,500-square-foot branch at 9961 Iron Bridge. (John Wadsworth photo)In a deal driven by its desire to accelerate its growth in the Richmond market, TowneBank is back in acquisition mode.The $17 billion Hampton Roads-based bank announced on Tuesday a deal to absorb Midlothian-based co
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Fall dance performances promise to engage audiences.The post On Their Feet appeared first on Style Weekly.
Read More Breaking News: TowneBank to acquire Midlothian-based Village Bank in $120M deal

The Village Bank deal will mark TowneBank’s second acquisition of a Richmond-area bank since it entered the market in 2015. (BizSense file images)TowneBank is grabbing a bigger piece of the Richmond market.The $17 billion Hampton Roads-based bank announced this morning a deal to acquire Midlothian-b
Read MoreSizable income-based Southside apartment project gets council go-ahead

The nearly 7-acre site is across from Fire Station 17 and sits downhill from Semmes Avenue. (BizSense file photos)A sizable housing development for lower-income renters in South Richmond has received the city’s approval.City Council gave the green light Monday night to a planned 266-unit apartment p
Read MoreBofA, Truist, Wells Fargo lose ground in local deposit rankings

Bank of America, Truist and Wells Fargo were once again the top three in local deposit market share.The big three of the Richmond banking market have lost some of their grip on local deposits.Bank of America, Truist and Wells Fargo each saw their share of deposits in the Richmond metro area decline
Read MoreThe Herd: New hires, promotions & departures for 9.24.24

Phil Warner, Powhatan County Fire & Rescue Chief, has retired.Jon Lugbill, founding executive director for Sports Backers, has announced his retirement, effective June 30.Terrie L. Suit, CEO of Virginia Realtors, has announced her retirement.Jay Douglas, executive director for the Virginia Board of
Read MoreCentury-old company reborn with new business model near Scott’s Addition

Glen Baker, owner of Baker Hydraulics. (Jack Jacobs photo)During his stint working for Carter Machinery, Glen Baker’s last name was as eye-catching to some as seeing his then-employer’s excavators in action.That’s because Baker was a scion of the family that founded and ran Baker Equipment, a local
Read MoreThe Pitch: Advertising and marketing news for 9.24.24

Campfire & Co.’s work for Fostering Arcadia included a new logo.Campfire & Co. is developing a brand identity for Richmond’s Diamond District project. Design work for developer Diamond District Partners LLC and the City of Richmond will include gateway signage, public streetscapes and marketing for
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Looking for the 'breakout star' at this year's Richmond Folk Festival.The post Follow the Buzz appeared first on Style Weekly.
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Even with decades of research, Atlantic sturgeon remain a puzzle despite having roamed local waters for thousands of years.The post The Great Return appeared first on Style Weekly.
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The second annual Iron Blossom Musc Festival proves its here to stay. The post Full Bloom appeared first on Style Weekly.
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